Havertys Reports Sales for Second Quarter
09 Juli 2009 - 1:30PM
PR Newswire (US)
ATLANTA, July 9 /PRNewswire-FirstCall/ -- HAVERTY FURNITURE
COMPANIES, INC. (NYSE:HVTNYSE:andNYSE:HVT.A) today reported sales
for the quarter ended June 30, 2009. Havertys' sales for the second
quarter 2009 decreased 23.0% to $129.7 million, compared with
$168.4 million for the second quarter of 2008. On a
comparable-store basis, sales for the quarter decreased 22.6%.
Comparable-store sales do not include locations opened, closed or
otherwise non-comparable during the last 12 months. Sales for the
first six months of 2009 totaled $273.9 million, compared with
$353.7 million in 2008, representing a decrease of 22.6%. On a
comparable-store basis, sales decreased 22.7% for the first six
months. Sales in Millions Total Comparable- (unaudited) Sales Store
Sales 2009 2008 % Change % Change Second Quarter $129.7 $168.4 -
23.0% - 22.6% Six Months $273.9 $353.7 - 22.6% -22.7% Clarence H.
Smith, president and chief executive officer, said, "Sales declines
for the second quarter, which historically is our weakest of the
year, were on a similar pace as the previous two quarters. We will
be launching attractive new products with a strong value statement
in the coming months and highlighting them in television, print and
on-line media. Our website, which features product reviews and an
easy to use room planner, is an important part of our reaching the
customer as consumers research potential big-ticket purchases.
Havertys' sales associates continue to provide superior customer
service during the in-store shopping experience. The combined
talents of all our team members and our strong merchandise
presentation will make Havertys a formidable survivor of these
difficult economic times." Havertys is a full-service home
furnishings retailer with 121 showrooms in 17 states in the
Southern and Midwestern regions providing its customers with a wide
selection of quality merchandise in middle- to upper-middle price
ranges. Additional information is available on the Company's
website at http://www.havertys.com/. News releases include
forward-looking statements, which are subject to risks and
uncertainties. Factors that might cause actual results to differ
materially from future results expressed or implied by such
forward-looking statements include, but are not limited to, general
economic conditions, the consumer spending environment for large
ticket items, competition in the retail furniture industry and
other uncertainties detailed from time to time in the Company's
reports filed with the SEC. Contact for Information: Dennis L.
Fink, EVP & CFO or Jenny Hill Parker, VP, Secretary &
Treasurer (404) 443-2900 DATASOURCE: Haverty Furniture Companies,
Inc. CONTACT: Dennis L. Fink, EVP & CFO, or Jenny Hill Parker,
VP, Secretary & Treasurer, both of Haverty Furniture Companies,
Inc., +1-404-443-2900 Web Site: http://www.havertys.com/
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